Customer Service, Intel Pays Off For Retirement Services Providers

Insurance companies and investment firms offering retirement services to companies large and small are learning that attention to detail, an improved communication with the plan sponsors and, indirectly, plan participants can dramatically improve their customer retention and satisfaction rates.

A Chatham Partners survey of more than 5,000 companies using retirement services from its consulting and research clients found that customer satisfaction rates across the board peaked at "6" on a seven-point scale last year, up from previous high of 5.9 set in 2009.